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05 February 2019
in
Metals and Mining

The risk outlook for African mining

South Africa's President Ramaphosa has an opportunity to demonstrate his anti-corruption credentials ahead of this year’s elections by appointing a new board at the state...

01 February 2019
in
Metals and Mining, Oil & gas

For every problem...

With further US sanctions looming over Russia, and uncertainty over what form they will take, a backlog of commodity-linked deals is growing. But Russian borrowers and...

30 January 2019
in
Agri/Soft Commodities, Infrastructure, Manufacturing & equipment, Metals and Mining, Oil & gas, Power, Renewables, Telecoms and Communications, Transport, Waste and water

Dangote refinery set to transform Nigeria’s downstream oil sector

The mega Dangote oil refinery will radically change the downstream landscape of Nigeria and enable vital import substitution. Jonathan Bell examines developments.

30 January 2019

Keynote: Deutsche’s Schmidt – from export financier to ‘project manager’

Werner Schmidt, Deutsche Bank’s new head of structured trade and export finance discusses how he sees his role morphing given the increasing complexity and longer lead...

28 January 2019

Russian PXFs: How low can they go?

Many Russian pre-export finance (PXF) borrowers pulled off another year-on-year reduction in margins in 2018. And with no obvious tightening of local liquidity, and too...

23 January 2019
in
Infrastructure, Transport

Locking in with the Panama Canal

The Panama Canal is one of the wonders of the world. Jonathan Bell charts its course.

22 January 2019
in
Oil & gas

How long can GCC tenors go?

State-owned borrowers in cash-strapped GCC countries – Oman and Bahrain – have been using ECA-backed debt to push out tenors to around 16-17 years. But can the private...

16 January 2019
in
Infrastructure, Transport

European transport finance: Funding next year's model

European governments and the private sector face an enormous transport challenge. In addition to demand for greenfield infrastructure, there is a backlog for investment...

14 January 2019

Mexico’s AMLO: A bumpier ride but not a train wreck

Mexico’s had its ‘moments’ both positive and negative but has been seen as relatively stable for the past decade. Is that all going to change with the new president’s...

11 January 2019
in
Oil & gas

Petroperu's ECA flag day

Petroperu's $1.3 billion CESCE-backed facility had to navigate four changes of government in two countries to finally reach financial close last month. But the deal still...

10 January 2019
in
Power

Red Oak: Switching cost of debt in US power

Morgan Stanley Infrastructure’s recent refinancing of the Red Oak power plant took the asset out of the bond market and into the bank market via a ‘hedge toggle’...

08 January 2019
in
Renewables

Greece's high stakes renewables reforms

With a new renewable energy support scheme in place and a stabilising regulatory environment, the Greek renewables sector has begun attracting international lender and...

21 December 2018
in
Power

Gulf Sriracha IPP: Long tenor, tight pricing and Thai debt

Sponsors of the $1.54 billion gas-fired Gulf Sriracha IPP project in Thailand – Gulf Energy Development and Mitsui – have closed a tightly priced DFI/ECA-backed financing...

19 December 2018
in
Power, Renewables

Liquid, not hot, air: Long-term debt for long-term storage

UK-based developer Highview Power thinks that renewables’ increased share of generation will make its liquid air storage technology increasingly attractive. But long-term...

13 December 2018
in
Power

Shop talk: How far away is mandatory ESG reporting in Asia?

TXF spoke with Juliette Macresy, head of Greater China and South-East Asia for ESG research and ratings firm Vigeo Eiris, to discuss tracking green loan proceeds against...

12 December 2018

US tech concerns with China could spook markets further

While the US and China try to seek agreement in their trade war, the prospect of a wider spat could open up as the US eyes technology issues. Jonathan Bell reviews the...

12 December 2018
in
Renewables

What price non-recourse debt for US offshore wind?

Balance sheet capacity and strong banking relationships are the best chance the US has of making progress in offshore wind development. While both developers and lenders...

11 December 2018
in
Power, Renewables

Nachtigal: Development finance as it should be

As more governments look to mimic Chinese-style development finance offerings, the recently signed Nachtigal hydro project financing is a perfect example of why they...

10 December 2018

Right problem – wrong solution: The threat to the multilateral official finance system

Often priced at well below accepted market rates, Chinese official finance is a major hurdle to fair competition in the global export market. A growing number of...

05 December 2018
in
Metals and Mining

Moving ahead in southern Africa

TXF last week held its annual Cape Town Conference on southern African Commodities, Export & Project Financing. Here, Jonathan Bell highlights some of the key takeaways...